Top 10 DeFi Updates | June Week 2

DeFi updates: Chainlink receives more use cases as Trace network and Curate incorporates its reliable price feeds.

In general, the decentralized finance (DeFi) space experienced several important DeFi updates last week. One of which is Polygon overtaking Ethereum Network in terms of use cases. Injective Labs partnership with MDEXTech and SWFT Blockchain plan to launch a DEX aggregator platform are also other top DeFi updates that took place last week.

1. Polygon | OKex Partnership

Decentralized technology scalability platform Polygon (formerly Matic) entered a strategic partnership with OKex last week. The partnership is aimed at facilitating interoperability among both platforms. Therefore, making it possible for users to securely, cheaply, and, effortlessly transfer funds between both networks. Due to the partnership, OKex is now one of the foremost cryptocurrency exchanges to interact with Polygon.

It is important to note that the partnership currently supports 23 cryptos. Some of these cryptos include SUSHI, USDT. USDC, TUSD, PEX, LINK, UNI, USDK, BAL, BAT, CEL, ETH, DAI, etc.

2. SWFT Blockchain to Launch DEX Aggregator Platform

Next-gen, cross-chain, payment network, SWFT, has disclosed an interest in the DeFi space. According to the platform, it has disclosed plans to launch a DEX aggregator platform. One that will function as a top-notch “[…] CeFi + DeFi combo with the best rates from centralized and decentralized exchanges in one place.” This will, however, only be possible with the presence of a governance token – a role SWFT Blockchain native token SWFT Coin (SWFTC) will take on. More details of the launch will be released in the near future.

3. Trace Network Incorporates Chainlink VRF

Trace network is gearing up for its IDO launch expected to take place on SushSwap, on June 15, 2021. In line with this, it recently partnered with Chainlink VRF to ensure fairness and transparency throughout its IDO whitelist process.

According to Trace network, Chainlink VRF was the obvious choice due to security, transparency, trustlessness, reliability, etc. The upcoming IDO was oversubscribed by an estimated 250x in just 48 hours.

4. Polygon Network Surpasses Ethereum Use Cases

Decentralized tech scalability platform Polygon (formerly known as Matic Network) has been at the forefront of DeFi adoption in recent times. The platform continues to record outstanding growth as more into its ecosystem.

According to cryptoanalysis platform DappRadar, Polygon last week surpassed Ethereum Network in terms of use cases.

5. WePiggy Launch NFT Gallery

Open-source, crypto-asset, lending marketplace WePiggy has announced the launch of phase 1 of its NFT gallery. The launch is the first step in a series of long-term strategic planning. This gallery launch will provide WePiggy users with interesting display space for NFT collections. Alongside the NFT gallery launch, WePiggy also launched two NFT collections namely; FlyingPiggy, and LuckyPiggy.

6. CURATE Integrates Chainlink Reliable Price Feeds

Popular oracle platform Chainlink has partnered with gasless NFT marketplace app CURATE. In line with this, Chainlink will provide its reliable price feed for the XCUR/ETH trading pair. Also, Chainlink will ensure that all NFT assets and services on CURATE are accurately priced with its secure, and reliable price feeds.

7. Injective Labs Partnership With MDEXtech

Injective Labs last week partnered with MDEX to improve the earning abilities of INJ token holders. This will be done via INJ token staking and liquidity mining on MDEX.

8. dHEDGE Enters Double Partnership With SushiSwap And OxPolygon

Decentralized asset management protocol, known for linking willing investors and investment managers, dHEDGE, last week entered into a double partnership. Together all three platforms will help facilitate the launch of dHEDGE V2 launch.

9. Cardano Plutus Smart Contract is Live

Cardano last week launched the first-ever Plutus smart contract on its Alonzo testnet. It is important to note that Plutus is the smart contract platform for the Cardano ecosystem.

10. Deeper Network Partnership With Cointelegraph Research

Deeper Network and Cointelegraph Research have formed a strategic partnership aimed at exploring the potentials of the Polkadot ecosystem. Polkadot has been famously described as a true competitor to Ethereum and as the network to drive Ethereum into extinction. Cointelegraph Research and Deeper Network will work together to find out if these claims are true.

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